Methanex Co. (NASDAQ:MEOH) receives average rating of “moderate buy” from analysts

Shares of Methanex Co. (NASDAQ:MEOH – Get Your Free Report ) (TSE:MX) has earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $56.75.

A number of research firms recently weighed in on MEOH. Piper Sandler raised Methanex from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $50.00 to $51.00 in a report on Wednesday, August 7th. Jefferies Financial Group raised their target price on Methanex from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Scotiabank raised their target price on Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 10th. UBS Group dropped their target price on Methanex from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Methanex in a report on Thursday, August 1st.

Get the latest research report on Methanex

Institutional inputs and outputs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. M&G Plc bought a new position in Methanex in the first quarter valued at about $589,459,000. FIL Ltd raised its position in Methanex by 4.9% in the fourth quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock valued at $349,868,000 after acquiring an additional 346,475 shares in the last quarter. Wellington Management Group LLP boosted its position in Methanex by 15.2% in the fourth quarter. Wellington Management Group LLP now owns 4,557,093 shares of the specialty chemicals company’s stock valued at $216,043,000 after purchasing an additional 599,778 shares in the last quarter. Vanguard Group Inc. grew its position in Methanex by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,487,117 shares of the specialty chemicals company’s stock valued at $111,000,000 after acquiring an additional 43,178 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Methanex by 16.3% in the second quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock valued at $55,406,000 after acquiring an additional 159,542 shares in the last quarter. Institutional investors own 73.49% of the company’s shares.

Methanex trading down 0.9%

Shares of Methanex stock opened at $45.07 on Friday. The company has a fifty day simple moving average of $47.69 and a two hundred day simple moving average of $47.52. Methanex has a 1 year low of $38.31 and a 1 year high of $56.43. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 19.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25, and a quick ratio of 0.85.

Methanex (NASDAQ:MEOH – Get Your Free Report ) (TSE:MX) last posted its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The company had revenue of $920.00 million during the quarter, compared to the consensus estimate of $954.26 million. In the same quarter last year, the firm earned $0.60 per share. The company’s revenue was down 2.0% year over year. research analysts anticipate that Methanex will post 2.22 EPS for the current year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.185 dividend. This represents a dividend of $0.74 on an annualized basis and a yield of 1.64%. The ex-dividend date is Monday, September 16. Methanex’s dividend payout ratio (DPR) is currently 31.36%.

Methanex Company Profile

(Get a free report

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada and Asia. The Company also purchases methanol produced by others through methanol off-take contracts and in the spot market. In addition, it owns and leases storage facilities and terminals.

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